Saturday, July 30, 2011

Trading interview with Larry Williams

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More silliness i Washington. ot looking good for equity markets...

From Reuters: Answers to the biggest 7 'what if' of debt default.

Human nature, it never changes. We saw is in 2007-08 global financial crisis. Back then it was the human greed of Wall St fat cat investment bankers and all the bonus chasing baners around the world, chasing yield, being creative and cheating the system. Now we see the politicians in Washington succumbing to reversion to being children again.... BUT if there is a CRASH in the Dow..... here lies OPPORTUNITY for the nimble trader.

DJIA daily, with the VIX building steam, fear pervasive in the markets.

Women's British Open

33 year old Se Ri Pak of S Korea turned back the years with a sizzling 8 under to hold the joint lead with compatriot In Bee Park, in the Women's British Open golf after 2 rounds. This will be the highlight sports event this weekend.


Friday, July 29, 2011

Never before have so many idiots gathered in one location

20110729 Impass in Washington on the debt crisis. Have you ever seen a room full of A1 idiots? Well, you don't need to go further than the US Congress in Washington DC.....

Thursday, July 28, 2011

These two figures will go down i ifamy and history as the ones that drove the USA to the brink of debt default.(pokai), ad all for personal political gain. Shameful. The situation highlight how wealthy and rich individuals and countries say the USA are actually addicted to money and debt. Their apparent wealth is actually phoney as it is built on debt. The same goes to the person who draws admirers for driving luxury cars such as a BMW ad lives in a bungalow house. One won't know what is under the surface, it could be all buit from OPM.(Other People's Money form the bank)

A nice rebound on 5 min NQ futures....

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20110728 Well, this guy says 2800 on fcpo by September. The clock is ticking, though the time is very far away, as well as the price.... Might as well have a more accurate prediction eg palm oil will trade between 1500 and 3800 by September... But as my trader friend always say, "let them be la, we need their comments to gauge sentiment and trade off of..."

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20110728 FKLI futures finally revisits the 1545.5 from last week.

Wednesday, July 27, 2011

World Cup qualifier: Malaysia v Singapore

Well, in the bigger scheme of FIFA World Cup, this is a minor game.(whoever gets through won't stand a chance v the likes of Japan, S Korea, Uzbekistan, Australia, Iran, Saudi Arabia , heavyweights in the AFC), but in KL tomorrow night at least this will be the biggest match in recent history for the Malaysian team, who lost 5-3 in the first leg in the Lion city last week. Live on Astro....

Preview of all the matches.


20110727 FKLI futures 30 min, breaks out of the box and eats into the previous spike low of 1545..... trades to a low of 1547.5.

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20110727 FKLI futures trapped in a trading range....

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Tuesday, July 26, 2011

20110726 Gold or EuroUSD? The hype is on the yellow metal with those having long positions trumpeting loudly. But in the end shorting USD gave similar exposure, without the glamour and bragging rights...

20110726 FKLI futures 30 min, hits a low of 1554 this morning.....

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Monday, July 25, 2011

20110725 FKLI futures 30 min....gaps down in line with regional markets...

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Sunday, July 24, 2011

Cadel Evans is poised to win the Tour de France cycling, on tomorrow's last stage in Paris, France. He crushed his nearest rivals with a well ridden time trial in the penultimate stage, leading Andy Schleck by 1 min 34 sec. He will wear the yellow jersey into the last stage in the 95km last stage of the race. This is why arresting people for wearing yellow is so tragically stupid and silly


Saturday, July 23, 2011

60 min chart of Euro vs USD.

Tour de France consludion

The individual time trial stage tonight will decide the winner for the Tour de France 2011. Looks to be between Cadel Evans Australia and Andy Schleck of Luxembourg. The man with the time advantage, Andy always have the edge, I think. Both are vying for their first general classification win in the Tour de France after each finishing 2nd twice before.


Friday, July 22, 2011

Back to more practical stuff.... Euro (60 min) surged 3.5 cents in 4 hours last evening.... and they are still talking about '...triggering a selective default (Greek bonds)' on Bloomberg TV...

Golden yacht- ywwn, does nothing for me, who cares? A symptom of the way humans waste resources on this planet. Ever heard of philantrophy? And when you think that we have millions facing starvation in East Africa.... golden yacht with 100 tonnes of gold and platinum is nothing to be admired. Human nature, it never changes.

20110722 Bumi Armada.... a stellar performance, breakout at 3.91.

Thursday, July 21, 2011

Marina Mahathir: Attacks on Ambiga in bad taste

Got an email from these guys ( says:
"There are several key successful trader characteristics
that you need to develop:
Limit distractions
Stick to your trade plan
Control over emotions
Time & Focus"
My observation is that most egostistical traders don't adhere to the "control over emotions", incessantly swear and curse at every market move. Don't let yourself feel like a LOSER even though at the end of a trading day, you end up with profit. It is not a good way to live. 

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20110721 FKLI futures 30 min, can it retest the 1545.50 spike low from 2 days ago?

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Wednesday, July 20, 2011

20110720 With the hammer pattern on FKLI daily, closed with a 2 point gain at 1564, and a high print of 1568.

20110720 It was fast and furious this morning on the cpo futures pit. The traders behaved like paranoid schizophrenic chooks and fought as though they were in a cock fight.... (5 min chart)

20110720 FKLI futures 30 min. 1570-72 was the level of the breakout to the downside a couple of days ago...

Tuesday, July 19, 2011

20110719 FKLI futures daily, today's candle seems to be a reversal? Closed at 1562 after bouncing off support at the longer term moving average... I was trying to find words to describe financial market participants (traders) in these days where say after Euro Banks stress tests, they acted as if the banks had already gone bankrupt and collapsed, so the crash nowadays is 1 to 2 days only, only to buy back in panic when they realise one da later those banks were still around. Basically Maniacal obsessive compulsive schzophrenic paranoia depressive bunch....

20110719 FKLI futures 5 min.... stops triggered to 1545.50.

20110719 FKLI futures 30 min, might be worth watching 1570... for scalp trade short.

Monday, July 18, 2011

20110718 FKLI futures 30 min, closes near the lows of the day.

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What is the root cause?

Basically it is back to the age old human nature of 'fear and greed'. The chase for yield that bankers go for causes them to buy bonds such as Greece etc, just to get the extra 1 to 2% of yield, so that they can enrich themselves by having the bank pay them big bonuses. In the end the shareholders and the bank are left holding the bag, while the greedy 'fat cat' bankers become millionaires. What does Obama and ECB do about it? Nothing because those are their friends. Cronyism is truly alive...

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20110718 FKLI futures 30 min.... breaks through support of the triangle pattern.

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20110718 FKLI futures 30 min, in a large triangle formation...

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Wow, Japan became the first Asian nation to win any FIFA World Cup, lifting the Women's World Cup overnight by beating the USA on penalties, after the score was locked at 2-2 after extra time.

A Northern Irishman won the British Open, but it was not Rory McEvoy. One of the oldies, Darren Clarke 42 blasted his way overnight to the Open Championship title at Royal St Georges course.

Sunday, July 17, 2011

Najib meets the Queen, all dressed in Yellow...

Saturday, July 16, 2011

From the book "Trend Trading" Daryl Guppy

lt is almost as if we are two different people. We are Dr jekyll when we open a trade, full of hope, confident we have made the right decision, and yes, a little greedy because we know this trade is going to make us money. We even have a plan to tell us when to get out to take a small protective loss, and when to get out to capture at good, but not too greedy, profit. On paper, we are the perfect Dr Jekyll. We are responsible, respectable, calm, rational and the model of a
good trader. This is not accidental. All of us feel very much like this when we buy stock. We are backing our judgment and analysis, often with significant sums of money. We are intelligent people. We know and understand the consequences of surrendering to emotion, of ignoring losses and using the market as ll tool to gamble on hope. We are not idiots, although later we might feel this way.
So what happens when we buy the stock? V/hat does Dr Jekyll do? He turns into Mr Hyde. All our planning goes out the window as We surrender to our emotions. and this is made easier because we are not in a social situation. There is nobody to remind us we are doing anything wrong. Ignoring a stop loss is easy. Surrending to irrational fear seems a natural response. We ignore losses by refusing to look at the trading screen. When the market report segrnent is due on the evening news, we go to the toilet. We find a delightful range of avoidance activities to prevent us from catching the important details about how our stock is performing. Yet, through this self-imposed fog of avoidartoe hear the commentalor when he mentions that our share has gone We bring selective deafness to a new level not achieved since we were teenagers.

I know many traders who hold o to the losing position eg in cpo futures short, with the price 200+ points against them who just choose to get into this 'fog of avoidance'. And the amazing thing is when they get lucky and the position swings 100+ in their favour, they still ignore details, citing excuses such as "I am not able to access prices or the trading platform. But I have a trailing stop in at X price". The inevitable then then happens , prices swing up to the stop loss level. Outcome? I think they will still be 'foggy'. Human nature, it will never change...

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Friday, July 15, 2011

Dustin Johnson hole in one at the Open Championship at Royal St Georges.
Tour de France will also be on this weekend...

Thursday, July 14, 2011

Proposed change in trading hours

Next door traders are talking, it seems Brsamalaysia Deriv is looking to extend fcpo trading hours.

20110714 FCPO futures 5 min, hits high of 3139, looked like stops triggered there.

"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil


From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system